Cotton futures are trading 15 to 30 points lower this morning, with the more thinly traded October the exception at +48. They were mixed on Thursday, with nearby Oct down 20 points. The weekly USDA cotton export sales number was the smallest of the marketing year. Weekly export shipments also came in at a MY low of 108,523 RB, 13.11% behind last year. All upland cotton export commitments are 44.8% larger than last year but have been losing ground. They still total 49% of the USDA export projection, vs. last year’s 34% and the average of 39% .The Cotton AWP was updated to 63.27 cents/lb, down 86 points from the previous week. The Cotlook A index for September 13 was 300 points lower at 79.1 cents/lb. At their daily auction of state reserves, China sold 22,500 MT of the 27,800 MT of cotton offered.

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